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    Tbd Banwell Alanson, MI 49706

    Sponsored
    For Sale
    $199,000

    Lots/Land - Alanson, MI

    Type:Single Family Residence
    Lot size:
    17.68 Acres
    Days on Market:
    20
    Last Refresh:
    Jan 26 at 4:06 pm

    Property Features for Tbd Banwell

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Standard status
    Active
    Zoning
    PUD
    APN
    PART OF 41-17-10-300-098
    Interior features
    Mixed Trees, Electric Nearby, Near Snowmobile Trails, Borders State Land, Paved Road
    Lot size
    17.68 Acres

    Utilities

    Utilities
    Electricity Available
    Water front features
    150 Feet Of Waterfront, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Craig R. Wilson
    Craig R. Wilson

    Coldwell Banker Fairbairn Realty (231) 548-9336

    Listing agent Craig Wilson (231) 548-9336

    Listing date Jan 7, 2026

    MLS# 473803 Listing URL

    Copyright © 2026 Northern Michigan MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Waterfront Land Near Downtown Alanson

    This 17.68-acre property features 150 feet of Crooked River waterfront. Located within the Village of Alanson, it offers convenient access to downtown, as well as a short drive to Petoskey or Harbor Springs. The site provides access to the 40+ mile Inland Waterway system, connecting to multiple lakes and river systems. A snowmobile trail is located at the road. The property is accessible from Banwell Rd, and sewer hookup is available. Zoned PUD (Planned Unit Development), the land allows for various building opportunities. It is adjacent to state land. The property has been surveyed and is currently in the process of being split, with all split approvals in place. It is suitable for residential use.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Alanson
    County
    Emmet
    State
    Michigan
    Longitude
    -84.8329
    Latitude
    45.472

    Nearby Similar for Sale

    • $630,000
      2,065 SF

      Established Winery and Brewery Destination

      Northern Michigan winery and brewery on 2.5+ acres near Burt Lake.
      9090 M-68, Alanson, MI 49706
      View Details

    FAQs

    What type of property is this?
    Land - 17.68 acres with 150' Crooked River frontage.
    Where is this land located?
    The property is located at Tbd Banwell Alanson, MI.
    What is the asking price?
    The asking price for this property is $199,000.
    What are key features of this property?
    This property features: - 17.68 acres with 150' of Crooked River waterfront providing access to the 40+ mile Inland Waterway.; - Located within walking distance to downtown Alanson and a short drive to Petoskey or Harbor Springs.; - Zoned PUD (Planned Unit Development) offering many building opportunities.
    (231) 459-5762
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    Tbd Banwell Alanson, MI 49706
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    Alanson, MI 49706
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Tbd Banwell Alanson, MI 49706
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    We can help!
    Listing Contact
    Craig R. Wilson
    Craig R. Wilson
    (231) 459-5762
    Learn more
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